Bayer walks away from deal, paving the way for Reckitt Benckiser to buy Schiff Nutrition

8:33 AM MST | November 21, 2012 | Natasha Alperowicz

Bayer said on Tuesday that it had no plans to raise its $1.1-billion price to buy Schiff Nutrition International (Salt Lake City), a leading producer of branded vitamins, nutrition supplements, and nutrition bars in the United States and other countries—leaving Reckitt Benckiser (Slough, UK) to acquire Schiff. Reckitt Benckiser on Friday commenced a tender offer to acquire Schiff Nutrition for $1.4 billion. Bayer, which offered $34/share, said it would not seek to counter Reckitt Benckiser’s $43/share bid because the price would be too high...